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166 Ashlyn Creek Drive Mooresville, NC 28115

4 Beds 3 Baths 2,601 sqft Built 2011

$364,900

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $140.29
  • 88 Days on Market
  • MLS # : 3672565
  • Updated Date : 01/05/2021 at 11:49
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,601 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty Llc

Listing Agent's Description

This gorgeous home is located on a private wooded lot in the desirable Ashlyn Creek subdivision. Home features great curb appeal along with a private garden and newly finished sunroom. Large entry way leads to a beautiful dining and great room with vaulted ceilings and stone fireplace. Open floor plan provides easy access to kitchen and breakfast area. Beautiful master bedroom and ensuite with large walk-in closet and custom shelving. Split bedrooms and additional study on the opposite side of the house. Upstairs there is a flex room that can be used as a bonus/bedroom complete with its own private half bath. This home features first floor living at it's best with additional private space on 2nd floor. and won't be on the market long!

SEE MORE

MARKET HIGHLIGHTS

  • Charlotte metro's economy is worth $181 billion in Gross Metro Product and projected to grow to $192 billion in 2019 (USMayors.org, 2018)
  • #1 Millenial Moving destination city (Smart Asset)
  • Corporate Fortune 500 headquarters: Bank of America, Lowe’s, Duke Energy, Nucor, Family Dollar Stores, Sonic Automotive, Domtar
  • #3 fastest-growing big city in US with more than 15,000 people added in 2017 (US Census, 2018)
  • Charlotte metro has 65.8% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • Charlotte attracted more than $325 million in capital investments in 2018Q2 (Meckelenburg county, June 2018)

PRICE & RENT TRENDS

Zip Code: 28115

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $113k288k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 28115

ZipNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8421614

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Rocky River Elementary School Primary Regular 637 40 7
Mooresville Intermediate School Middle Regular 745 42 5
Mooresville High School High Regular 1,787 78 8

Rocky River Elementary School

  • Education Level: Primary
  • # of students: 637
  • # of teachers: 40
7
GreatSchools Rating

Mooresville Intermediate School

  • Education Level: Middle
  • # of students: 745
  • # of teachers: 42
5
GreatSchools Rating

Mooresville High School

  • Education Level: High
  • # of students: 1,787
  • # of teachers: 78
8
GreatSchools Rating
 

$328,410$401,390$364,900

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$1,267
Property Tax -$340
Property Insurance -$76
HOA -$42
Property Management Fees -$119
CASH FLOW
-$24

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$364,900

PROJECTED PRICE

$1,820

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$102,449

INVESTMENT

$102,449

Down Payment
$91,225
Rehab Estimate
$5,750
Closing Costs
$5,474

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,267

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $91,225
Loan Amount $273,675
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$16,324

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,820

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,808

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,560
1$1,5602$1,5953$1,7954$1,8005$1,820
$1,820
RENT COMPS ANALYSIS
  • 166 Ashlyn Creek Drive Mooresville, NC 5
    • 4 beds 3 baths ∙ 2,601 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,601 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.70
    •  
  • 123 Elgin Lane Mooresville, NC 1
    • 4 beds 2 baths ∙ 2,316 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,316 Sqft ∙ Built 2001
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.67
    •  
  • 142 Sawhorse Drive Mooresville, NC 2
    • 4 beds 3 baths ∙ 2,376 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,376 Sqft ∙ Built 2006
    LEASED 05/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.67
    •  
  • 682 Highland Ridge Road Mooresville, NC 3
    • 4 beds 3 baths ∙ 2,446 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,446 Sqft ∙ Built 1993
    LEASED 01/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.73
    •  
  • 131 Rusty Nail Drive Mooresville, NC 4
    • 4 beds 3 baths ∙ 2,712 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,712 Sqft ∙ Built 2005
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.66
    •  
PROPERTY LISTING DETAILS
Toni Dishman
1.888.584.9431
Exp Realty Llc
BESbswy